The Tort system that operates in the world of US automotive insurance asserts that responsibility must be apportioned in the event of a road traffic accident. Alaska is just one of many states utilizing the Tort system and drivers are obliged to carry a minimum level of 50/100/25 coverage.
Because of the varying weather conditions and often-perilous territory, insurance coverage is significantly higher in Alaska than it is in many other US states. The average premium for an auto insurance policy reached $2,218 in 2009, a figure that soared above the national average by a colossal $483. The figure itself was more than 13% higher than those set in the previous twelve months.
The required 50/100/25 level of cover means that drivers must have $50,000 worth of bodily injury liability cover for a single person and $100,000 worth of bodily injury liability per accident. In addition, drivers must also have $25,000 of cover for property damage sustained by a third party in a road traffic accident.
Although there are no compulsory measures in place to purchase insurance protection against uninsured or underinsured motorists, this particular add-on is highly recommended. Collision damage cover and comprehensive insurance are also options to consider.
The cost of purchasing auto insurance in Alaska can be significantly reduced if a policy is quoted online. Insurance company websites will usually offer a set discount for all internet purchases while price comparison websites see an assortment of different carriers operating in direct competition with each other. Because price is often used as a factor in attracting new business, prices can be surprisingly competitive on these popular online resources.